Classic Screens to Dominate India Multiplex Market through 2024
Rising
trend of watching movies for a family outing coupled with growing demand for
convenience and privacy in cinemas to drive India multiplex market through 2024
According to TechSci Research
report, “India Multiplex Market By Screen Type, By Region,
By Major States, Competition, Forecast & Opportunities, 2014 - 2024”, India multiplex market is projected to grow at a CAGR of over
7% during 2019-2024. The growth of India multiplex market can be attributed to
rapid urbanization coupled with rising trend of dual household income across the
country and hence increasing disposable income which is favoring the shift in
preferences of people, especially of young generation who are increasingly
opting to watch movies in multiplexes than single screen cinemas due to the
quality of service offered at multiplex.
In terms of region,
West India dominated India multiplex market with 45% of market share in 2018.
This region consists of states like Maharashtra and Gujarat where inclination
towards luxurious lifestyle and convenience is high. Maharashtra, Gujarat,
Karnataka and Uttar Pradesh are the states holding major share in India
multiplex market on account of large consumer base and high urban population
share with comparatively higher purchasing power of people. Some of the leading
companies operating in India multiplex market are PVR Cinemas, INOX Leisure
Limited, Carnival Cinemas, Cinepolis India Pvt. Ltd. and SRS Cinemas.
Browse market data Tables and Figures spread
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On the basis of
screen type, India multiplex market has been categorized into Classic and
Premium. Classic screens dominate India multiplex market and are expected to
maintain their dominance during the forecast period as well on account of lower
ticket prices of these screens that fit well in the budget of middle-class
income group which dominates India’s population.
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“With discretionary spending
of consumers gradually rising, especially in tier-I and tier-II cities,
preference of multiplexes over single-screen cinemas is also witnessing an
increase. Parking facilities, superior interiors, comfort and availability of
several options at the food court are some of the major factors driving the
growth of multiplexes across the country. Also, with rising inclination towards
Hollywood movies and screening of the same in 3D, 4DX formats is further
pushing the market for multiplexes in India.” said Mr. Karan Chechi Research
Director with TechSci Research, a research based global management consulting
firm.
“India Multiplex Market
By Category, By Occupancy Type, By Size, Competition, Forecast &
Opportunities, 2014 - 2024” has evaluated the future growth
potential of Indian multiplex market and provides statistics and information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in India multiplex market.
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